Monday, August 1, 2011

The Deal

TPM's got a good summary and the comments are useful as well.
What the country really needs is a large stimulus -- aid to states, big infrastructure programs and so on -- with an eye toward fiscal consolidation later in the decade. The White House argues that budgetary concerns so dominate the political landscape that new deficit spending right now is out of the question, and only possible in the future if preceded with consolidation measures like this one. But part of the reason Washington is so primed for austerity now is that the White House let that faction of the establishment seize the initiative. It didn't necessarily have to be so.
Mistakes were made. Will we live to fight another day? I guess, she said, limping away, sucking her bloody knuckles, eyes downcast, in need of water and rest. 


  1. Mistakes Were Made: But Not By Me.

    A good book to read in these times. Kissinger is often quoted.

  2. I think I'm reading that, it's called Matterhorn, reportedly the best Vietnam War novel. It's pretty good so far. I wouldn't be surprised to see Kissinger show up at some point. Why hasn't someone shot him?